[Congressional Record Volume 169, Number 95 (Thursday, June 1, 2023)]
[Senate]
[Page S1907]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 106. Mr. COTTON (for himself and Mr. Sullivan) proposed an 
amendment to the bill H.R. 3746, to provide for a responsible increase 
to the debt ceiling; as follows:

       Strike section 102 and insert the following:

     SEC. 102. SPECIAL ADJUSTMENTS FOR FISCAL YEARS 2024 AND 2025.

       Section 251 of the Balanced Budget and Emergency Deficit 
     Control Act of 1985 is amended by adding at the end the 
     following:
       ``(d) Revised Discretionary Spending Limits for Fiscal Year 
     2024.--
       ``(1) In general.--Subject to paragraph (3), if on or after 
     January 1, 2024, there is in effect an Act making continuing 
     appropriations for part of fiscal year 2024 for any 
     discretionary budget account, the discretionary spending 
     limits specified in subsection (c)(9) for fiscal year 2024 
     shall be adjusted in the final sequestration report, in 
     accordance with paragraph (2), as follows:
       ``(A) For the revised security category, the amount 
     specified in subsection (c)(9)(A), reduced by one percent.
       ``(B) For the revised nonsecurity category, the amount 
     specified in subsection (c)(9)(B), reduced by one percent.
       ``(2) Final report; sequestration order.--If the conditions 
     specified in paragraph (1) are met during fiscal year 2024, 
     the final sequestration report for such fiscal year pursuant 
     to section 254(f)(1) and any order pursuant to section 
     254(f)(5) shall be issued on the earlier of--
       ``(A) 10 days, not including weekends and holidays, for the 
     Congressional Budget Office and 15 days, not including 
     weekends and holidays, for the Office of Management and 
     Budget, after the enactment into law of annual full-year 
     appropriations for all budget accounts that normally receive 
     such annual appropriations (or the enactment of the 
     applicable full-year appropriations Acts without any 
     provision for such accounts); or
       ``(B) April 30, 2024.
       ``(3) Reversal.--If, after January 1, 2024, there are 
     enacted into law each of the full year discretionary 
     appropriation Acts, then the adjustment to the applicable 
     discretionary spending limits in paragraph (1) shall have no 
     force or effect, and the discretionary spending limits for 
     the revised security category and revised nonsecurity 
     category for the applicable fiscal year shall be such limits 
     as in effect on December 31 of the applicable fiscal year.
       ``(e) Revised Discretionary Spending Limits for Fiscal Year 
     2025.--
       ``(1) In general.--Subject to paragraph (3), if on or after 
     January 1, 2025, there is in effect an Act making continuing 
     appropriations for part of fiscal year 2025 for any 
     discretionary budget account, the discretionary spending 
     limits specified in subsection (c)(10) for fiscal year 2025 
     shall be adjusted in the final sequestration report, in 
     accordance with paragraph (2), as follows:
       ``(A) for the revised security category, the amount 
     specified in subsection (c)(10)(A), reduced by one percent.
       ``(B) For the revised nonsecurity category, the amount 
     specified in subsection (c)(10)(B), reduced by one percent.
       ``(2) Final report; sequestration order.--If the conditions 
     specified in paragraph (1) are met during fiscal year 2025, 
     the final sequestration report for such fiscal year pursuant 
     to section 254(f)(1) and any order pursuant to section 
     254(f)(5) shall be issued on the earlier of--
       ``(A) 10 days, not including weekends and holidays, for the 
     Congressional Budget Office, and 15 days, not including 
     weekends and holidays, for the Office of Management and 
     Budget, after the enactment into law of annual full-year 
     appropriations for all budget accounts that normally receive 
     such annual appropriations (or the enactment of the 
     applicable full-year appropriations Acts without any 
     provision for such accounts); or
       ``(B) April 30, 2025.
       ``(3) Reversal.--If, after January 1, 2025, there are 
     enacted into law each of the full year discretionary 
     appropriation Acts, then the adjustment to the applicable 
     discretionary spending limits in paragraph (1) shall have no 
     force or effect, and the discretionary spending limits for 
     the revised security category and revised nonsecurity 
     category for the applicable fiscal year shall be such limits 
     as in effect on December 31 of the applicable fiscal year.''.
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